Coal India Workers Protest Over Easing Foreign Investment Rules, Output Hit

www.oann.com | 10/25/2018 | Staff
Pumpkinajn (Posted by) Level 3
NEW DELHI/BHUBANESWAR (Reuters) – Protests by workers at Coal India Ltd on Tuesday over implementation of reforms including allowing 100% foreign direct investment (FDI) in coal mining paralyzed operations and hit production, company officials and union leaders said.

The company, which accounts for over four-fifths of India’s coal output and employs about 300,000 people, registered a 30% attendance due to the strike, which included about 17,000 executives, a Coal India official told Reuters.

World - Coal - Miner - Output - Loss

The world’s largest coal miner declined to comment on the total output loss due to the strike. India depends on coal-based utilities for three-quarters of its electricity generation.

India’s cabinet last month approved a plan allowing 100% FDI in coal mining, in a bid to attract investments from global miners. Workers at the state-run firm are opposing this move, union leaders said.

Unions - Company - Strike - Tuesday - Coal

Five unions had notified the company of a strike on Tuesday, Coal India Chairman Anil Kumar Jha said in a notice to employees, adding that another union had issued a five-day strike notice.

D.D. Ramanandan, general secretary of the All India Coal Workers Federation – an umbrella body of 22 coal workers’ unions – told Reuters that 85%-90% of coal...
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